Nepal | July 08, 2020

SEBON to amend its guidelines

Himalayan News Service
Share Now:

Kathmandu, October 3

With an aim to improve the existing laws related to the securities market, Securities Board of Nepal (SEBON) — security and commodities market regulator — has started the process to amend its guidelines to make it more contextual.

The guidelines need to be amended as the government has already submitted the amended Securities Act at the Federal Parliament for approval. Earlier, SEBON had submitted its concerns and suggestions regarding the act to the Ministry of Finance when it was being revised.

Rewat Bahadur Karki, chairman of SEBON, said that the regulator has already started the process of amending the existing guidelines. “We have already started the process to amend our guidelines, but we will not be able to release anything until the Securities Act is endorsed by the Parliament,” he informed. “We have included provisions akin to global practices that are followed in the international markets.”

As per him, the new act has included a provision whereby any person who has been assigned the post of chairman of SEBON will not be allowed to lead any other organisation that is affiliated or connected to the regulatory board after retirement. Similarly, the amendment has also included a provision which states that executive directors or deputy executive directors of SEBON will not be allowed to lead any organisation that is affiliated with the board for two years after their retirement.

Meanwhile, the board has informed that it is going to amend its directives, bylaws, merchant banker guidelines, and other laws related to the securities market.

Earlier, SEBON had issued new guidelines for all listed companies of Nepal Stock Exchange regarding corporate governance and accountability of companies towards their shareholders. According to the board, the guidelines will make the stock market more transparent and stable by promoting ethical practices among the listed companies, thereby making them accountable towards their shareholders.

A version of this article appears in print on October 04, 2019 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Transport entrepreneurs deposit vehicle keys at banks in Pokhara

POKHARA: After failing to deposit the loan installment in the wake of extended lockdown, transport entrepreneurs handed-over vehicle keys to bank officials in Pokhara, on Monday. As many as ninety entrepreneurs associated with Prithvi Highway Bus Association handed over the keys to officials Read More...

Protecting the Economically Vulnerable Population

Kathmandu, July 7 What started as a health crisis in the form of the COVID-19 pandemic has now unfolded into a global economic and livelihood crisis. While the ubiquitous quarantines and lockdowns may have saved many lives and provided an additional benefit of  environmental improvement, their e Read More...

Tottenham Hotspur

Keane own goal gives Spurs win over Everton

Keane own goal gives Spurs win Mourinho secures 200th Premier League win Son and Lloris have halftime bust-up LONDON: An own goal by Michael Keane proved the difference as Tottenham Hotspur beat visitors Everton 1-0 in a dour clash on Monday to move up to eighth in the standings an Read More...

Actor Depp takes on UK tabloid in court battle over 'wife beater' claims

LONDON: Johnny Depp begins legal action against a British tabloid on Tuesday in a case that is likely to delve into the private lives of the Hollywood star, his ex-wife actress Amber Heard and a number of other well-known figures. Depp, the 57-year-old star of the "Pirates of the Caribbean" f Read More...

Yanqi-Nepal meet China’s bid to keep NCP united?

Kathmandu, July 6 China’s Ambassador to Nepal Hou Yanqi yesterday met Madhav Kumar Nepal, a senior leader of the ruling Nepal Communist Party (NCP), raising eyebrows as the meeting took place at a time when the internal rift within the NCP is heading towards a climax. Nepal’s former perma Read More...

Student union asks guardians not to pay school fees

BHOJPUR, JULY 6 Nepal Student Union, Bhojpur, has asked guardians not to pay any fees to schools for the lockdown period. At a time when PABSON and N-PAB- SON have asked guardians to pay fees to schools even for the lockdown period, NSU, Bhojpur, has asked guardians not to pay fees for the loc Read More...

175 suicide deaths in Sudurpaschim during lockdown

DADELDHURA, JULY 6 As many as 175 people have died by suicide during the nationwide lockdown in Sudurpaschim Province. Police said that suicide deaths have been reported from all nine districts of the province from March 24 till date. Police said suicide deaths were more common among males com Read More...

Indian side admits constructing embankment in Dasgaja area

RAUTAHAT, JULY 6 A joint survey team of Nepal and India gauged the Dasgaja area with a global positioning system which showed that the Indian side had constructed an embankment on 200 metres of encroached land in Dasgaja area. India had built a 10-metre tall embankment at Banjaraha of Ishnath Read More...